Fund giant Third Point sells 4 million shares of Ali in the fourth quarter

www.techweb.com.cn/finance/2019-02-11...

Tencent Technology News according to foreign media reports, according to activist investor Daniel-Leb (Daniel S. Loeb) hedge fund ThirdPoint recently submitted a 13-f regulatory document, The $17 billion hedge fund sold its holdings of Alibaba, Microsoft, PayPal and Netflix in the fourth quarter.

Documents show that in the fourth quarter, Third Point sold 1.25 million Netflix shares, 4.1 million shares of Microsoft stock and 4.45 million shares of Alibaba. At the same time, ThirdPoint sold more than 5 million shares of PayPal, cutting its share of PayPal by more than half, but the latter is still the top five positions in ThirdPoint.

At the same time, Third Point increased its holdings of 3 million shares of (CampbellSoup Company), an increase of 16 shares. Kingbo Soup is one of the nation's leading canned soup makers, with its headquarters in Ganton, N.J., where (Camden), products sell well in 120 countries and regions worldwide. In addition to concentrated canned soup, the company has in recent years begun to open up other food markets, such as concentrated foods, non-concentrated soups, namely, flushing soup powder, gravy, and has successfully engulfed a number of American food companies.

Documents show that, Third Point last held 21 million shares in the company. With the increase, ThirdPoint will become its second-largest long-term shareholder, accounting for about 7 of the 302 million unissued shares in the company.

Indeed, Kindang seems to have become one of Loeb's latest targets. This quarter, Noble Tang agreed to add two Third Point independent directors to expand its board. The hedge fund is also known to have provided "constructive advice" on the choice of a new CEO.

According to media reports, Loeb had hoped to replace the entire board of the company, calling the U.S. food company "chaotic" and accusing its board of failing to take effective corrective action.

In addition to Jinbao Tang, Third Point made big purchases in the fourth quarter, including Shire, a rare disease drug company, and Salesforce, a U.S. health insurance giant and a provider of customer relationship management software services.

Documents show that Third Point offshore funds fell 6.2% in the turbulent December, and fell 11.1% last year, while the Standard & Poor's index fell 9% in December, down 4.4% last year. However, driven by its long-term equity investment performance, Third Point still announced a 2.9% earnings performance in January.

Hedge funds of a certain size only need to report their long-term holdings in the quarterly 13-F filings, which are usually published within 45 days of the end of each quarter. As a result, its actual position may have changed on the date of publication of the document.

It should be pointed out that Third Point has been investing in Alibaba for a long time and has achieved considerable returns. In an increase in 2017, its shareholding ratio is close to 50% of the original holding, and the accumulated shareholding value exceeds US$1.1 billion.

But Daniel Loeb told investors earlier in a letter that he had cut back on tech stocks because he was worried about the current market conditions. (Tencent Technology Review / Tom)

Fund Giant Alligator Third Point fourth quarter sell 4 million shares Ali Stock

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